26 May Will Boomers Reshape the Housing Market Once Again?

Baby Boomers used to be one of the largest targeted demographic groups in the housing industry. As their retirement funds diminished over the past few years, many were forced to work longer before considering a retirement home or community, which put them in a limbo of sorts with the future of the market.

There is a predicted Boomer comeback among builders, only this time the market and their needs will reflect a simpler product line. Land planners now have an opportunity to rethink community and home designs that were originally intended for that age group.

Retiring Boomers are still privy to developments restricted to older buyers, but they are seeking a greater variety of home styles than were offered during the housing boom.

The recession has resulted in less money to spend and brought about requests for less space than previously desired. Successful developments are actually scaling back home sizes by 200 to 400 feet.

With the possibility of younger Boomers continuing to work at least part time post-retirement developers should consider creating space for home offices in their floorplans.

Among the most popular amenities desired, walking trails and fitness centers are still number one on the list. Gated access and the feeling of security also play into the overall picture.

What other features do you think today’s Boomers are looking for? Do you think the 77+ million Boomers are a strong voice in market demands?